Raising the bar: Home country efforts to regulate foreign investment for sustainable development. November 12-13, 2014 Columbia University PROGRAM
|
|
- Noel Greer
- 6 years ago
- Views:
Transcription
1 Raising the bar: Home country efforts to regulate foreign investment for sustainable development November 12-13, 2014 Columbia University PROGRAM With support from:
2 What role should home countries play in monitoring or regulating the activities of companies operating abroad, particularly to facilitate sustainable development outcomes? Policies and regulations that govern foreign direct investment help shape whether such investment supports sustainable development in recipient countries. Yet host countries have primary responsibility for regulating foreign investment within their territories, and traditional efforts to ensure that foreign investment contributes to development and avoids social and environmental harms have focused on the actions of host countries, with less attention paid to the role of home countries. Indeed, home country regulations that extend extraterritorially can be controversial, and home countries forays into this area have been varied. Over the years, however, home countries have proven willing to exercise certain powers extraterritorially, and have implemented a number of measures to monitor or regulate overseas conduct. These measures have been buttressed by a growing debate over home countries obligations and responsibilities, a mounting desire to see greater coherency on the part of home state policies and actions, and increased interest in the potential of such measures to address continued governance gaps. As home countries increasingly turn to regulations with extraterritorial implications, and in light of the fierce debate surrounding them, the time is ripe for a deeper examination of home country efforts to monitor or regulate foreign investment for sustainable development. This conference brings together stakeholders representing policymakers, the private sector, academia and civil society to discuss the reasons for and against home country regulations, the lessons learned from past and current attempts, the implications for the private sector and affected communities, and what further efforts may be useful or necessary to regulate investment for sustainable development. Examining these issues is crucial to understanding what future regulation of international economic activity will look like, who will be responsible for writing and enforcing the rules, and what that means for businesses, governments, citizens and other stakeholders. The conference will commence with a panel that provides context on the issue of home country measures, exploring the ways in which home countries assist their firms in undertaking foreign investment, and whether countries have legal or moral obligations to regulate the extraterritorial conduct of their nationals. The second panel will examine the unilateral efforts that home countries have taken to regulate or monitor foreign investment, as well as the challenges that investors confront in complying with these measures. Following the discussion of unilateral efforts, the third panel will turn to the successes and failures of multilateral efforts to regulate foreign investors, as well as the benefits and drawbacks of such initiatives compared to unilateral ones. To conclude, the final panel will consider what needs to be done to ensure more coordinated and effective home country measures to foster foreign direct investment that promotes sustainable development, as well as how such measures compare with or could be supplemented by multi-stakeholder initiatives. November 12, 2014, Wednesday 8:30 9:00 Breakfast and registration 9:00 9:15 Opening remarks 9:15 12:30 Session I: Setting the scene: Home country support and home country responsibilities Developed countries have traditionally helped their firms undertake foreign direct investment (FDI); emerging markets are increasingly doing the same. Such home country assistance includes, among others, financial and fiscal support, investment treaty protections, political risk insurance, diplomatic support, and official development assistance tied to particular projects. 1 Home countries thus play an 1 Some of these home country support measures resemble variations of the incentives offered by host countries to attract FDI, the topic of last year s Columbia International Investment Conference. 2
3 important but often overlooked role in the global economy, using a diverse array of tools to facilitate and shape international investment by their companies. Against the backdrop of home country support to their investors, there has been a growing dialogue over whether home countries have obligations or responsibilities to monitor or regulate the activities of companies operating abroad. In terms of legal obligations, some legal experts have argued that home country governments have obligations under international law that extend beyond their borders, particularly when it comes to human rights obligations. 2 While not everyone agrees that governments have extraterritorial obligations, particularly in respect of regulating the activities of non-state actors like private companies, there are also increasing pressures on home countries to take steps on account of moral duty, the desire for greater coherency of governmental policies and actions, and perceptions of potential political or economic self-interest. These steps would not be out of character for many home countries, which have proven willing to exercise some level of extraterritorial power in regulating overseas conduct in certain areas, for example, by criminalizing bribery of foreign officials or enforcing antitrust standards for conduct in other territories. This panel sets the scene for the conference by focusing on the role of home countries in promoting responsible outward investment and overseas investor conduct. The panel will thus consider how home countries support and facilitate FDI by their nationals, the legal and non-legal arguments for why home countries could or should regulate the conduct of those outward investors and other companies resident in their jurisdictions, and whether there is a need for more coherent home country policies and actions. This first panel reviews: - Why and in which ways do home countries provide support to their outward investors? How does such support differ between types of investors, for example, domestic firms, state-owned enterprises and sovereign investors? - What types of support are contingent on investors meeting certain standards on responsible business conduct, and which types of support are provided without such requirements? - Given global consensus on the need to advance sustainable development, should home countries do more to monitor or regulate their nationals that are investing abroad to address their development impact? For example, should the availability of home country support for outward investors be linked to certain conditions regarding the impact of their investments on host and home countries? Would this help create greater coherency between home country policies in support of sustainable development and in support of outward investment? - Should some of the same norms that apply to companies in their home countries be imposed when they invest abroad? What sort of enforcement mechanisms might be used? What obstacles might arise when regulations conflict? - To what extent and how does international law create obligations on home countries to regulate the extraterritorial conduct of their nationals? How might the growing legal debate on extraterritorial rights obligations influence how home countries support or regulate their outward investors or other companies resident in their jurisdictions? 12:30 14:00 Lunch 2 For example, in 2011, a group of 40 international legal experts adopted the Maastricht Principles on Extraterritorial Obligations of States in the area of Economic, Social and Cultural Rights, which seek to codify existing international human rights law that addresses extraterritoriality, and which state that countries have certain extraterritorial obligations, including an obligation to regulate non-state actors such as companies, to ensure that they do not nullify or impair the enjoyment of rights. 3
4 14:00 17:30 Session II: Unilateral home country efforts to monitor or regulate foreign investment In response to the pressures discussed in the first panel, there is an increasing tendency towards home country efforts to monitor, regulate or provide a forum for raising grievances regarding the overseas conduct of companies, especially in respect of human rights, labor standards, the environment, and payments to governments. Many efforts have been unilateral, although these efforts can inspire other countries to take similar actions. In the United States, for example, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 requires U.S.-listed extractive industry companies to disclose payments to governments, and creates assessment and reporting requirements for any companies issuing U.S. securities whose products contain conflict minerals from the Democratic Republic of Congo or neighboring countries. Similarly, and in part inspired by the Dodd-Frank requirements, a 2013 EU Directive requires country-by-country and project-based reporting on payments to governments made by extractive industry and logging companies. 3 Regulations of outward investors can also be hostcountry-specific: for example, the U.S. Treasury Department requires U.S. entities investing in Myanmar and meeting certain conditions to submit reports on human rights and environmental policies and procedures, arrangements with security providers and property acquisition, among other things. Aside from regulations focused on specific sectors or specific host governments, home countries also have regulated against specific types of actions, such as bribery. The United States, for example, took an early unilateral step when it passed the Foreign Corrupt Practices Act in 1977, which criminalizes bribery of foreign officials and requires U.S. companies, as well as U.S.-listed foreign companies, to keep transparent and audited books. Many other countries have followed suit. Moreover, some governments, through their judicial systems, have proven willing in certain contexts to provide access to remedies for those who have suffered severe negative consequences of their outward investors conduct beyond their borders. For example, the United States Alien Tort Statute has been interpreted by some federal courts to provide jurisdiction of civil actions by non-u.s. citizens for certain human rights abuses, including by corporate actors, that occur in other countries. 4 Similarly, tort claims against domiciled entities for abuses abroad have been entertained in British and Dutch courts. Advocates for greater disclosure, reporting and regulatory requirements, as well as those seeking broader scope for courts to entertain claims for harms that occurred abroad, contend that such measures help facilitate and ensure accountability in an era in which international activities and corporate forms can create governance gaps. Critics, on the other hand, bemoan the additional administrative burden and compliance costs, the alleged subsequent competitive disadvantage, and the ineffectiveness of non-global measures due to the risk of companies relocating to less-regulated jurisdictions; they also object to intrusive extraterritorial reaching. This panel will explore lessons learned from existing unilateral home country measures, including whether and to what extent home country regulations have been, or are likely to be, effective. This panel considers: - What can we learn from various unilateral home country regulations in terms of compliance, enforceability and the corporate responses to new standards and increased accountability? Have newer initiatives or requirements built on lessons learned from earlier initiatives? 3 In addition, the recently adopted European rules on non-financial reporting will require large companies in all EU member states to disclose information relating to environmental, social and employee-related issues; respect for human rights; and anticorruption and bribery matters. This reporting presumably will encompass information relevant to overseas operations. 4 The U.S. Supreme Court s ruling in Kiobel v. Royal Dutch Petroleum (2013) significantly narrowed the extraterritorial reach of the Alien Tort Statute (ATS), but did not fully preclude cases based on harms that occurred abroad. Aside from the ATS, other types of tort claims based on harms that occurred in other territories have proceeded through U.S. courts, including transitory tort claims. 4
5 - What challenges do home countries face in taking these steps, and how have they been able to overcome them? - What criteria should be used to define whether a company should comply with home country regulations? For example, should the criteria be that the company is domiciled in the home country, that it issues securities in the home country, or more tenuous connections? - Are individual home country measures and initiatives a good first step towards more effective global governance, or are uncoordinated efforts creating an overly complicated and onerous framework for investors and other stakeholders? - What are the modern objections to extraterritorial unilateral regulations or redress mechanisms, and who is raising them? Host countries? Companies? Both? - Are alleged competitive disadvantages or uneven playing fields due to home country regulations real, and, if so, what are the costs of compliance? - Do home country measures incentivize companies to switch domiciles to countries with less onerous requirements? - What are the impacts on and roles of host states and third parties (including communities in host states), neither of which may have any influence in the design of the home country policies? November 13, 2014, Thursday 8:30 9:00 Breakfast 9:00 12:15 Session III: Multilateral home country efforts to monitor or regulate foreign investment Aside from the unilateral home government efforts discussed in the previous panel, governments have also worked to develop multilateral initiatives to monitor or regulate the overseas conduct of companies. Such multilateral initiatives have included legally binding instruments requiring governments to regulate the conduct of their investors abroad, such as the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions. That convention, which was first signed in 1997, has since been adopted by the 34 OECD member countries and six nonmember countries, and requires its state parties to criminalize bribery of foreign public officials in international business transactions. Multilateral efforts to regulate overseas business conduct may also arise in the context of larger multilateral agreements, such as antitrust provisions incorporated into trade agreements. In addition, countries have found non-binding ways to multilaterally promote more responsible overseas investment. For example, the OECD Guidelines for Multinational Enterprises provide recommendations addressed by governments to companies operating from (or in) adhering countries. The recommendations focus on corporate responsibility over issues ranging from human rights to taxation. The guidelines also require adhering governments to establish their own implementation mechanism through National Contact Points, which are meant to promote the guidelines and also serve as grievance mechanisms to resolve issues arising from non-observance of the recommendations. Multilateral initiatives can offer more policy coherence for companies operating in multiple jurisdictions. Depending on their uptake, they also may help combat a potential race to the bottom by companies relocating from jurisdictions with particularly onerous requirements. Yet, as illustrated by failed initiatives such as the UN Code of Conduct on Transnational Corporations, it can be difficult to develop stringent and binding multilateral efforts, slowing the pace of potential home government 5
6 efforts. (This does not always prevent governments from trying, as evidenced by the renewed debate on the development of a legally binding international instrument on business and human rights. 5 ) This panel thus explores: - What are the roles, effects and limits of multilateral initiatives to address the conduct of outward investors? - What benefits do multilateral initiatives hold over unilateral ones, and what are the drawbacks? - Are there particular issues (for example, developmental impact, tax avoidance, payment disclosure, egregious violations of human rights, or severe environmental harms) that are particularly ripe for collaborative efforts? Should certain issues be prioritized? - What lessons can be learned from failed multilateral efforts? What are the factors that have led to multilateral successes? - What positive examples of multilateral cooperation among home country governments can help level the playing field for companies and improve outcomes for other stakeholders? 12:15 14:00 Lunch 14:00 17:15 Session IV: Looking ahead: What needs to be done to ensure more coordinated and effective home country measures to regulate investment for sustainable development? While there are some examples of global, coordinated efforts to formalize the role of home country governments in monitoring and regulating the activities of their outward investors (or other relevant companies) as seen in Panel 3, many other initiatives continue to develop at the national level as observed in Panel 2. Some objectives may require global collaboration because of the disincentives of being a first-mover, such as regulations against tax avoidance. In those areas, however, the lack of coordination, information sharing and collective action continues to thwart global progress to address the major negative externalities of international investment, despite widespread global awareness of the problems. This panel will therefore explore whether, where and how home country measures to regulate and promote responsible investment should be implemented or strengthened, attempting to differentiate among areas and sectors in which (i) individual home country efforts are desirable, (ii) bilateral collaboration is more effective and (iii) global cooperation is optimal. The panel will also consider how home country efforts compare with or could be supplemented by multi-stakeholder attempts to promote responsible outward investment. This panel aims to address: - What are the next steps that home countries should take, unilaterally or multilaterally, to foster investment that promotes sustainable development? - Who should take the lead on global collaborative efforts? - Do voluntary mechanisms help achieve the same goals when binding multilateral agreements are too difficult to reach? - Would some home country measures be more effective if they were multi-stakeholder? Are there multi-stakeholder unilateral or multilateral efforts that serve as particularly useful examples? - What effective roles are there for other stakeholders (host governments, investors, civil society groups or potentially affected communities, for example) in coordinating with or feeding into home country measures? 5 In June 2014, the UN Human Rights Council adopted a resolution to establish a working group with the mandate to develop a legally binding instrument on transnational corporations and human rights, as well as another resolution to review the benefits and limitations of legally binding instruments. For more information, see 6
7 - To the extent that a discussion of specific topics could facilitate more concrete consideration of how to move forward: o For investments in extractive industries or land and agriculture, how can home country measures be leveraged to achieve more sustainable development outcomes for host countries? o Is there a right mix between unilateral and multilateral measures to address tax avoidance or the impact of investments on climate change? 17:15 17:30 Closing remarks 7
Human rights and Transnational corporations: Legislation and Government Regulation
Human rights and Transnational corporations: Legislation and Government Regulation Note of a meeting held at Chatham House on 15 June 2006. This summary is issued on the understanding that if any extract
More informationInformal Ministerial Meeting on Responsible Business Conduct. 26 June 2014 OECD Château Room C Paris, France
Informal Ministerial Meeting on Responsible Business Conduct 26 June 2014 OECD Château Room C Paris, France The Global Forum on Responsible Business Conduct (the Global Forum) was launched by the OECD
More informationMoving the Discussion Forward: Exploring Alternatives to ISDS
Moving the Discussion Forward: Exploring Alternatives to ISDS October 31, 2016, Columbia University 8:30 am 5:30 pm The recent conclusion of the Trans-Pacific Partnership (TPP) negotiations and ongoing
More informationThe risks that arise from violating CSR norms
COMMENTARY The risks that arise from violating CSR norms Evolving norms of corporate social responsibility (CSR) reflect changing expectations for corporate behaviour, often exceeding the requirements
More informationUnder Secretary Robert D. Hormats World Investment Forum, Doha, Qatar, April 20 23, 2012
Under Secretary Robert D. Hormats World Investment Forum, Doha, Qatar, April 20 23, 2012 The Continuing Importance of Investment in the Global Economy At the previous World Investment Forum in Xiamen in
More informationPublic Law: The Impact of Human Rights Law on Business Lecture Outline. 1. Legal commentators are more often concerned with whether companies are
Public Law: The Impact of Human Rights Law on Business Lecture Outline Introduction Legal Persons as Beneficiaries of Human Rights Protections 1. Legal commentators are more often concerned with whether
More informationAnalytical Summary of the discussions on Corporate Responsibilities and the OECD Guidelines for Multinational Enterprises
CONFERENCE ON THE ROLE OF INTERNATIONAL INVESTMENT IN DEVELOPMENT, CORPORATE RESPONSIBILITIES AND THE OECD GUIDELINES FOR MULTINATIONAL ENTERPRISES, Paris, 20-21 September 1999 Analytical Summary of the
More informationCodes of Conduct for Multinational Corporations: An Overview
Codes of Conduct for Multinational Corporations: An Overview James K. Jackson Specialist in International Trade and Finance February 14, 2011 Congressional Research Service CRS Report for Congress Prepared
More informationChapter 9 ETHICS & GLOBALIZATION
Chapter 9 ETHICS & GLOBALIZATION CHAPTER OBJECTIVES After exploring this chapter, you will be able to: 1. Understand the ethical issues arising in global business. 2. Explain the issue of ethical relativism
More informationCONFERENCE REPORT OF THE THUN GROUP OF BANKS ANNUAL MEETING ON 19 JUNE 2017
CONFERENCE REPORT OF THE THUN GROUP OF BANKS ANNUAL MEETING ON 19 JUNE 2017 1. Introduction More than 80 representatives of banks, civil society, governments, international governmental organizations,
More information2. JULY 2015 INITIAL ASSESSMENT AND FINAL STATEMENT UNITED STEEL WORKERS AND BIRLESIK METAL IS VS NORGES BANK INVESTMENT MANAGEMENT
2. JULY 2015 INITIAL ASSESSMENT AND FINAL STATEMENT UNITED STEEL WORKERS AND BIRLESIK METAL IS VS NORGES BANK INVESTMENT MANAGEMENT 1 TABLE OF CONTENTS Initial Assessment and Final Statement United Steel
More informationThe OECD Guidelines for Multinational Enterprises
ECD Watch The OECD Guidelines for Multinational Enterprises a tool for responsible business conduct OECD Guidelines about the for Multinational enterprises The OECD Guidelines for Multinational Enterprises
More informationEUROPEAN ECONOMIC AND SOCIAL COMMITEE
EUROPEAN ECONOMIC AND SOCIAL COMMITEE Hearing in the framework of the EESC opinion on Investment Protection and ISDS in EU Trade and Investment Agreements Brussels, 3 February 2015 Investment Treaty Making:
More informationInternational regulation and transparency to support Domestic Budget Revenues
International regulation and transparency to support Domestic Budget Revenues Issue brief Prepared by the SDSN Secretariat May 18, 2015 This issue brief summarizes the key propositions put forward in the
More informationRelease of BEPS discussion draft: Make Dispute Resolution Mechanisms More Effective
from Tax Controversy and Dispute Resolution Release of BEPS discussion draft: Make Dispute Resolution Mechanisms More Effective December 22, 2014 In brief On December 18, 2014, the Organisation for Economic
More informationBIAC Thought Starter. A Proactive Investment Agenda
March 2013 BIAC Thought Starter A Proactive Investment Agenda The creation of the OECD Working Party on Responsible Business Conduct represents an opportunity for the Investment Committee and its Working
More informationChapter 8 Conclusion and Recommendation
Chapter 8 Conclusion and Recommendation The purpose of this study is to analyze the development of anti-money laundering regime in responding to the progress of money laundering practices. It examines
More informationMEDEF SYMPOSIUM ON THE OECD GUIDELINES FOR MULTINATIONAL ENTERPRISES
MEDEF SYMPOSIUM ON THE OECD GUIDELINES FOR MULTINATIONAL ENTERPRISES Paris, 19 June 2001 Statement by Mr. Seiichi Kondo Deputy Secretary-General, OECD Ladies and Gentlemen, 1. I am delighted to be attending
More informationInternational Liability for Damage caused by Genetically Modified Organisms
Summary International Liability for Damage caused by Genetically Modified Organisms 1. The use of genetic manipulation is not a new phenomenon. However, over the last 30 years, our ability to alter organisms
More information2. JULY 2015 INITIAL ASSESSMENT AND FINAL STATEMENT COTTON CAMPAIGN, ANTI-SLAVERY INTERNATIONAL AND KTNC WATCH VS NORGES BANK INVESTMENT MANAGEMENT
2. JULY 2015 INITIAL ASSESSMENT AND FINAL STATEMENT COTTON CAMPAIGN, ANTI-SLAVERY INTERNATIONAL AND KTNC WATCH VS NORGES BANK INVESTMENT MANAGEMENT 1 CONTENTS Initial Assessment and Final Statement Cotton
More informationAnnual Meeting of the National Contact Points for the OECD Guidelines for Multinational Enterprises
For Official Use DAF/INV/NCP(2007)3 DAF/INV/NCP(2007)3 For Official Use Organisation de Coopération et de Développement Economiques Organisation for Economic Co-operation and Development 20-Jul-2007 English
More informationAgenda Item 3c. Enhancing international cooperation in the investigation of cross-border competition cases: Tools and procedures
Intergovernmental Group of Experts on Competition Law and Policy 16th Session 5-7 July 2017 Room XVII, Palais des Nations, Geneva Wednesday, 5 July 2017 Afternoon Session Agenda Item 3c. Enhancing international
More informationFrom: Annual Report on the OECD Guidelines for Multinational Enterprises 2013 Responsible Business Conduct in Action
From: Annual Report on the OECD Guidelines for Multinational Enterprises 2013 Responsible Business Conduct in Action Access the complete publication at: http://dx.doi.org/10.1787/mne-2013-en Executive
More informationBribery and Corruption
Bribery and Corruption The FCPA, UK Bribery Act, and Other Anti-Corruption Measures 2018 Association of Certified Fraud Examiners, Inc. Introduction The FCPA and the UK Bribery Act are the two premier
More informationSubmission to the Department of Foreign Affairs and Trade on the development of a national plan on business and human rights
Submission to the Department of Foreign Affairs and Trade on the development of a national plan on business and human rights 1 March 2015 The Irish Centre for Human Rights is an academic unit located within
More informationFINAL CONSULTATION DOCUMENT May CONCEPT NOTE Shaping the InsuResilience Global Partnership
FINAL CONSULTATION DOCUMENT May 2018 CONCEPT NOTE Shaping the InsuResilience Global Partnership 1 Contents Executive Summary... 3 1. The case for the InsuResilience Global Partnership... 5 2. Vision and
More informationSUMMARY OF THE LEUVEN BRAINSTORMING EVENT ON COLLECTIVE REDRESS 29 JUNE 2007
SUMMARY OF THE LEUVEN BRAINSTORMING EVENT ON COLLECTIVE REDRESS 29 JUNE 2007 COLLECTING THOUGHTS AND EXPERIENCES ON COLLECTIVE REDRESS The event was opened by Commissioner Meglena Kuneva who gave a key-note
More informationGlobal Action Menu for Investment Facilitation
Global Action Menu for Investment Facilitation Version 4 16 September 2016 Note to Version 4 This version of the Action Menu incorporates feedback from multi-stakeholder consultations and intergovernmental
More informationLeveraging OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions
Improving Transparency in Reconstruction, Aid Flow and Reforms in Lebanon Beirut February 20, 2007 Leveraging OECD Convention on Combating Bribery of Foreign Public Officials in International Business
More informationMODERN SLAVERY ACT 2015
MODERN SLAVERY ACT 2015 THE IMPACT ON MULTINATIONAL BUSINESSES Martin Luff and Thomas Wilson of Vinson & Elkins LLP examine the implications of the Modern Slavery Act 2015 for non-uk businesses and other
More informationComments to the Draft Resolution on TTIP negotiations
POSITION PAPER February 2015 Comments to the Draft Resolution on TTIP negotiations TTIP- Transatlantic Trade and Investment Partnership is a unique opportunity for the EU and US to give the world a strong
More informationInternational Cooperation in Combating Illicit Financial Flows
International Cooperation in Combating Illicit Financial Flows Conceptual, Operational and Policy Issues Leonce Ndikumana University of Massachusetts at Amherst UN ECOSOC Special Meeting on International
More informationSYSTEMIC ISSUES IN INTERNATIONAL INVESTMENT AGREEMENTS (IIAs)
UNCTAD/WEB/ITE/IIA/2006/2 UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT Geneva SYSTEMIC ISSUES IN INTERNATIONAL INVESTMENT AGREEMENTS (IIAs) IIA MONITOR No. 1 (2006) International Investment Agreements
More informationTOWARDS AN INTERNATIONAL FRAMEWORK FOR INVESTMENT FACILITATION
Investment Insights APRIL 2018 TOWARDS AN INTERNATIONAL FRAMEWORK FOR INVESTMENT FACILITATION Ana Novik and Alexandre de Crombrugghe Investment is central to growth and sustainable development. Under the
More informationStrategic reflections on OECD work on anti-corruption
January 2017 Strategic reflections on OECD work on anti-corruption BIAC appreciates the opportunity to provide initial input to the questions that have been shared with us further to our meeting in December
More informationThe DAC s main findings and recommendations. Extract from: OECD Development Co-operation Peer Reviews
The DAC s main findings and recommendations Extract from: OECD Development Co-operation Peer Reviews Luxembourg 2017 Luxembourg has strengthened its development co-operation programme The committee concluded
More informationMutual Accountability Introduction and Summary of Recommendations:
Mutual Accountability Introduction and Summary of Recommendations: Mutual Accountability (MA) refers to the frameworks through which partners hold each other accountable for their performance against the
More informationEnhancing legal conditions for infrastructure investment in the Mediterranean raising awareness of risk mitigation instruments
Enhancing legal conditions for infrastructure investment in the Mediterranean raising awareness of risk mitigation instruments the investment security in the mediterranean support programme The Organisation
More informationOverview of the current international debate on reform of investment dispute settlement
Overview of the current international debate on reform of investment dispute settlement Expert meeting: Establishment of a multilateral investment dispute settlement system 13 December 2016 James X. Zhan
More informationA MULTILATERAL AGREEMENT ON INVESTMENT
GENERAL DISTRIBUTION OCDE/GD(95)65 A MULTILATERAL AGREEMENT ON INVESTMENT REPORT BY THE COMMITTEE ON INTERNATIONAL INVESTMENT AND MULTINATIONAL ENTERPRISES (CIME) AND THE COMMITTEE ON CAPITAL MOVEMENTS
More informationESG AND RESPONSIBLE INVESTMENT PHILOSOPHY
ESG AND RESPONSIBLE INVESTMENT PHILOSOPHY February 2017 AMP CAPITAL ESG AND RESPONSIBLE INVESTMENT PHILOSOPHY 1 AMP Capital is one of Asia Pacific s largest investment managers. We have a single goal in
More informationCAPACITY DEVELOPMENT WORKSHOP AIDE MEMOIRE AUDITING FOR SOCIAL CHANGE
6 th Global Forum on Reinventing Government Towards Participatory and Transparent Governance 24 27 May 2005, Seoul, Republic of Korea CAPACITY DEVELOPMENT WORKSHOP AIDE MEMOIRE AUDITING FOR SOCIAL CHANGE
More informationTRADE, FINANCE AND DEVELOPMENT DID YOU KNOW THAT...?
TRADE, FINANCE AND DEVELOPMENT DID YOU KNOW THAT...? The volume of the world trade is increasing, but the world's poorest countries (least developed countries - LDCs) continue to account for a small share
More informationPOSSIBLE UPDATE OF THE EXTRACTIVE INDUSTRIES HANDBOOK
Distr.: General 13 October 2017 Original: English Committee of Experts on International Cooperation in Tax Matters Fifteenth session Geneva, 17-20 October 2017 Item 5 (c) (ii) Possible update of the Extractive
More informationOn Innovative Path for BIT Practice
The OECD/UNCTAD 2nd Symposium on IIA's 2010-12-14, Paris On Innovative Path for BIT Practice Zeng Huaqun Xiamen University, China In the history of bilateral investment treaty (BIT) practice, there is
More informationThe Finance and Trade Nexus: Systemic Challenges. Celine Tan *
The Finance and Trade Nexus: Systemic Challenges Celine Tan * Statement on behalf of the Third World Network, Informal Hearings of Civil Society on Civil Society Perspectives on the Status of Implementation
More informationOfficial web site of the Ministry:
HUNGARY POLICY FRAMEWORK The Ministry of Foreign Affairs of the Republic of Hungary is responsible for planning and coordinating the Hungarian international development cooperation and humanitarian aid
More informationInternational Finance Resource Mobilization
International Finance Resource Mobilization 1. All development finance should be climate-sensitive, environmentally sound and respect human rights. 2. Existing financing commitments and resource mobilisation
More informationTechnical Meeting on Co-operation in Bribery Investigations and Prosecutions
Technical Meeting on Co-operation in Bribery Investigations and Prosecutions (Restricted to Invited Experts only) 28 September 2006 Santiago de Chile, Chile Draft Outline Organisation for Economic Co-operation
More informationTHE NEGATIVE IMPACT OF EXTRATERRITORIAL APPLICATION OF NATIONAL LEGAL NORMS ON INTERNATIONAL BUSINESS TRANSACTIONS POLICY STATEMENT
THE NEGATIVE IMPACT OF EXTRATERRITORIAL APPLICATION OF NATIONAL LEGAL NORMS ON INTERNATIONAL BUSINESS TRANSACTIONS POLICY STATEMENT Key messages: 1. Predictably limit the application of national laws and
More informationConsultation with the OECD Investment Committee. BIAC comments
Consultation with the OECD Investment Committee 4 December 2013 BIAC comments Strategic orientations of the Investment Committee (DAF/INV(2012)17/REV4) BIAC welcomes the fact that the OECD has issued a
More informationATRiD: Harmonizing the rules on the allocation of taxing rights within the EU and in the relations with third countries
ATRiD: Harmonizing the rules on the allocation of taxing rights within the EU and in the relations with third countries Paolo Arginelli 1This contribution lays down a general plan for what the EU should
More informationExtra-Territorial Application of Securities Fraud Provisions (File No )
Extra-Territorial Application of Securities Fraud Provisions (File No. 4-617) Joint response of the Company Law Committees of the Law Society of England and Wales and the City of London Law Society The
More informationFinancing for Development Conference The Addis Tax Initiative Declaration
Financing for Development Conference The Addis Tax Initiative Declaration The proposed Addis Ababa Accord sets out the importance of domestic revenue for financing development, calls for substantial additional
More informationConclusions to promote decent work and protection of fundamental principles and rights at work for workers in EPZs 1
INTERNATIONAL LABOUR ORGANIZATION Tripartite Meeting of Experts to Promote Decent Work and Protection of Fundamental Principles and Rights at Work for Workers in Export Processing Zones (EPZs) MEWEPZ/2017/2
More informationTHE OECD S REPORT ON HARMFUL TAX COMPETITION JOANN M. WEINER * & HUGH J. AULT **
THE OECD S REPORT ON HARMFUL TAX COMPETITION THE OECD S REPORT ON HARMFUL TAX COMPETITION JOANN M. WEINER * & HUGH J. AULT ** Abstract - In response to pressures created by the increasing globalization
More informationOECD Report to G7 Leaders on Responsible Business Conduct
OECD Report to G7 Leaders on Responsible Business Conduct This note describes work undertaken by the OECD to support the implementation of the 2015 G7 Leaders Declaration in the area of responsible business
More informationCOUNTRIES BLENDED FINANCE. in the LEAST DEVELOPED EXECUTIVE SUMMARY AND ACTION AGENDA
BLENDED FINANCE in the LEAST DEVELOPED COUNTRIES < < < < < < < <
More information5. Ireland is Countering Aggressive Tax Planning
CONTENTS 1. Foreword by the Minister for Finance 2. Introduction 3. Ireland s International Tax Charter 4. Ireland s Corporate Tax Strategy 5. Ireland is Countering Aggressive Tax Planning 6. Conclusion
More informationUNCTAD Meeting on the Transformation of the International Investment Agreements Regime February 2015 Palais des Nations, Geneva
UNCTAD Meeting on the Transformation of the International Investment Agreements Regime 25-27 February 2015 Palais des Nations, Geneva The Transformation of the IIA Regime: Time for collective strategy
More informationProposed Framework For Expedited Insolvency Procedures to Facilitate Cross-Border Restructurings
Proposed Framework For Expedited Insolvency Procedures to Facilitate Cross-Border Restructurings (Text distributed at UNCITRAL/INSOL/IBA Vienna Colloquium) The recent work of the Insolvency Working Group
More informationBusiness and Human Rights Mediation and arbitration
Business and Human Rights Mediation and arbitration International Law Association, Arbitration Institute Stockholm Chamber of Commerce Seminar, 23 March 2017 Prof Jan Eijsbouts UN Guiding Principles on
More informationTable of Recommendations
Table of Recommendations This table of recommendations provides a series of suggestions to help close the implementation gaps identified by the MDG Gap Task Force Report 2012, entitled The Global Partnership
More informationANNEX II CHANGES TO THE UN MODEL DERIVING FROM THE REPORT ON BEPS ACTION PLAN 14
E/C.18/2017/CRP.4.Annex 2 Distr.: General 28 March 2017 Original: English Committee of Experts on International Cooperation in Tax Matters Fourteenth Session New York, 3-6 April 2017 Agenda item 3 (b)
More informationA value and rights based EU budget for the future
A value and rights based EU budget for the future EU Civil Society Contact Group contribution to the EU budget review consultation 3 April 2008 The EU Civil Society Contact Group brings together some of
More informationAnswers from Bangladesh to the questionnaire set by the UN about Base Erosion and Profit Shifting.
Answers from Bangladesh to the questionnaire set by the UN about Base Erosion and Profit Shifting. 1.Q. How does base erosion and profit shifting affect Bangladesh? A. Bangladesh is a grooming economy
More informationTAX TREATMENT OF DEVELOPMENT PROJECTS
Distr.: General 9 October 2017 Original: English Committee of Experts on International Cooperation in Tax Matters Fifteenth Session Geneva, 17-20 October 2017 Item 5(c)(x) Taxation of development projects
More informationCOMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL
EUROPEAN COMMISSION Brussels, 21.3.2018 COM(2018) 146 final COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL Time to establish a modern, fair and efficient taxation standard
More informationEN Official Journal of the European Union L 77/77
15.3.2014 EN Official Journal of the European Union L 77/77 REGULATION (EU) No 234/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 11 March 2014 establishing a Partnership Instrument for cooperation
More informationTAX EVASION AND AVOIDANCE: Questions and Answers
EUROPEAN COMMISSION MEMO Brussels, 6 December 2012 TAX EVASION AND AVOIDANCE: Questions and Answers See also IP/12/1325 Tax Evasion Why has the Commission presented an Action Plan on Tax fraud and evasion?
More informationEconomic and Social Council. Operational Activities for Development Segment February 2015
Economic and Social Council Operational Activities for Development Segment 23-25 February 2015 Panel: How to ensure coherence in the funding of operational activities of the UN system for effective realization
More informationIndex 299. J Johannesburg Stock Exchange, 16, 243, 245, 250, 258 Listing Requirements, 16, 244, 252, 255 Socially Responsible Investment Index, 244
Index A Alternative dispute resolution, 292 Annual reports board accountability and, 130, 131 conflict minerals and, 151 corporate sustainability reporting and, 148, 158 King III compliance and, 248 non-financial
More informationWorld Investment Forum 2014 Investing in Sustainable Development
24 March 2014 pm World Investment Forum 2014 Investing in Sustainable Development Geneva, Switzerland 13-16 October Provisional Programme The UNCTAD World Investment Forum is a high-level, biennial, multi-stakeholder
More informationMeasures to strengthen the implementation of the Convention through coordination and cooperation
66 66 Conference of the Parties to the WHO Framework Convention on Tobacco Control Eighth session Geneva, Switzerland, 1 6 October 2018 Provisional agenda item 7.1 FCTC/COP/8/11 9 May 2018 Measures to
More information2019 USCIB Trade and Investment Agenda
2019 USCIB Trade and Investment Agenda The United States Council for International Business (USCIB) corporate members represent $5 trillion in revenues and employ 11.5 million people worldwide across a
More informationCONVERGENCE IN THE REGULATION OF INTERNATIONAL FINANCIAL MARKETS WILTON PARK CONFERENCE NOVEMBER 2005
CONVERGENCE IN THE REGULATION OF INTERNATIONAL FINANCIAL MARKETS WILTON PARK CONFERENCE 11-12 NOVEMBER 2005 PANEL 2 - PRINCIPLES OF FINANCIAL REGULATION Philippe Richard, IOSCO Secretary General I am delighted
More informationCAFOD SUBMISSION TO THE IDC INQUIRY ON TACKLING CORRUPTION OVERSEAS
CAFOD SUBMISSION TO THE IDC INQUIRY ON TACKLING CORRUPTION OVERSEAS CAFOD is the official aid agency of the Catholic Church in England and Wales and part of Caritas Internationalis. Since 2002 we have
More informationTen key messages of the Latin American and Caribbean regional consultation on Financing for Development
Ten key messages of the Latin American and Caribbean regional consultation on Financing for Development ECLAC, Santiago, 12-13 March 2015 1. Monterrey and Doha have a different political process and history
More informationMETRICS FOR IMPLEMENTING COUNTRY OWNERSHIP
METRICS FOR IMPLEMENTING COUNTRY OWNERSHIP The 2014 policy paper of the Modernizing Foreign Assistance Network (MFAN), The Way Forward, outlines two powerful and mutually reinforcing pillars of aid reform
More informationINTERNATIONAL RESERVES: IMF ADVICE AND COUNTRY PERSPECTIVES ISSUES PAPER FOR AN EVALUATION BY THE INDEPENDENT EVALUATION OFFICE (IEO)
INTERNATIONAL RESERVES: IMF ADVICE AND COUNTRY PERSPECTIVES ISSUES PAPER FOR AN EVALUATION BY THE INDEPENDENT EVALUATION OFFICE (IEO) September 20, 2011 I. BACKGROUND AND MOTIVATION 1. The IEO will undertake
More informationIssue Paper: Linking revenue to expenditure
Issue Paper: Linking revenue to expenditure Introduction Mobilising domestic resources through taxation is crucial in helping developing countries to finance their development, relieve poverty, reduce
More informationBEPS Action 14: Make Dispute Resolution Mechanisms More Effective
BEPS Action 14: Make Dispute Resolution Mechanisms More Effective The Organization for Economic Cooperation and Development on December 18, 2014, released a public discussion draft pursuant to Action 14,
More informationA Proactive Investment Agenda for 2018
A Proactive Investment Agenda for 2018 March 2018 The world is facing unprecedented challenges. To address these challenges, we need investment, and to make the necessary investments, we need business.
More informationGLOBAL ACTION MENU FOR
GLOBAL ACTION MENU FOR INVESTMENT FACILITATION SEPTEMBER 2016 INVESTMENT AND ENTERPRISE DIVISION unctad.org/diae unctad.org/iia investmentpolicyhub.unctad.org unctad-worldinvestmentforum.org Note to the
More information1.1 ICFTU President, Mr. Fackson Shamenda, Opening Remarks
FES / TUAC WORKSHOP ON THE OECD GUIDELINES FOR MULTINATIONAL ENTERPRISES WITH SUPPORT OF THE EUROPEAN COMMISSION HOLIDAY INN, LUSAKA, ZAMBIA 6 7 OCTOBER, 2003 WORKSHOP SUMMARY REPORT 1 : CONCLUSIONS 1.0
More informationGreen Finance for Green Growth
2010/FMM/006 Agenda Item: Plenary 2 Green Finance for Green Growth Purpose: Information Submitted by: Korea 17 th Finance Ministers Meeting Kyoto, Japan 5-6 November 2010 EXECUTIVE SUMMARY Required Action/Decision
More informationMULTILATERAL STRATEGIC PLAN ON MUTUAL AGREEMENT PROCEDURES: A VISION FOR CONTINUOUS MAP IMPROVEMENT. Preamble
MULTILATERAL STRATEGIC PLAN ON MUTUAL AGREEMENT PROCEDURES: A VISION FOR CONTINUOUS MAP IMPROVEMENT Preamble 1. A convergence of global developments is creating elevated levels of tax risk and uncertainty
More informationWorld Bank Conditionality Review Nordic-Baltic Position Paper
World Bank Conditionality Review Nordic-Baltic Position Paper Key Points The Nordic and Baltic Countries (NBC:s) welcome the World Bank review of conditionality, and as input into the review process suggest
More informationComparison of the UK Government, European Council and European Parliament s positions on future UK-EU relations (5 June 2018)
Comparison of the UK overnment, European Council and European Parliament s positions on future UK-EU relations (5 June 2018) Key: reen=broad agreement both on the desired outcome and the means of achieving
More informationOECD Recommendation on Consumer Dispute Resolution and Redress
OECD Recommendation on Consumer Dispute Resolution and Redress ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT The OECD is a unique forum where the governments of 30 democracies work together to
More informationRe: Taxand Comments on the Clarification of the Meaning of 'Beneficial Owner' found in Articles 10, 11 and 12 of the OECD Model Tax Convention
14 July 2011 Mr Jeffrey Owens Director, CTPA OECD 2, Rue André Pascal 75775 Paris France Dear Mr Owens, Re: Taxand Comments on the Clarification of the Meaning of 'Beneficial Owner' found in Articles 10,
More informationQ&A ON THE INTERGOVERNMENTAL TAX BODY
Q&A ON THE INTERGOVERNMENTAL TAX BODY Contents 1. What do we want governments to do on this issue?... 2 2. What should the intergovernmental tax body look like?... 2 3. Are there any similar structures
More informationRecent Developments at the Inter-American Development Bank. J. James Spinner General Counsel Inter-American Development Bank
Recent Developments at the Inter-American Development Bank J. James Spinner General Counsel Inter-American Development Bank 2002 Seminar on Current Developments in Monetary and Financial Law International
More informationArticle 23 A and 23 B of the UN Model Conflicts of qualification and interpretation
Distr.: General 30 September 2014 Original: English Committee of Experts on International Cooperation in Tax Matters Tenth Session Geneva, 27-31 October 2014 Agenda Item 3 (a) (viii)* Article 23 Article
More informationMulti-year Expert Meeting on Investment, Innovation and Entrepreneurship for Productive Capacity-building and Sustainable Development, fourth session
Multi-year Expert Meeting on Investment, Innovation and Entrepreneurship for Productive Capacity-building and Sustainable Development, fourth session Geneva, Palais des Nations, Room XXVI, 16 March 2016
More informationEUROPEAN COMMISSION PRESENTS ANTI-TAX AVOIDANCE PACKAGE
EUROPEAN COMMISSION PRESENTS ANTI-TAX AVOIDANCE PACKAGE tax.thomsonreuters.com On January 28, 2016, the European Commission presented its Communication on the Anti-Tax Avoidance Package (ATA Package).
More informationShared Responsibilities for Health
Chatham House Report Executive Summary Shared Responsibilities for Health A Coherent Global Framework for Health Financing Final Report of the Centre on Global Health Security Working Group on Health Financing
More informationGLOBAL FORUM ON ASSET RECOVERY COMMUNIQUE. Washington D.C. December 4-6, 2017
GLOBAL FORUM ON ASSET RECOVERY COMMUNIQUE Washington D.C. December 4-6, 2017 The United Kingdom of Great Britain and Northern Ireland and the United States of America co-hosted the first Global Forum on
More informationWHO GCM on NCDs Working Group Discussion Paper on financing for NCDs Submission by the NCD Alliance, February 2015
WHO GCM on NCDs Working Group Discussion Paper on financing for NCDs Submission by the NCD Alliance, February 2015 General comments: Resources remain the Achilles heel of the NCD response. Unlike other
More informationNinth Annual Columbia International Investment Conference
Ninth Annual Columbia International Investment Conference Raising the bar: Home country efforts to regulate foreign investment for sustainable development Columbia University, New York, November 12-13,
More information